Crude oil futures rise on spot demand

Crude oil prices rose by Rs 13 to Rs 3,848 per barrel on Monday as participants widened their positions on firm spot demand.

On the Multi Commodity Exchange, crude oil for February delivery traded higher by Rs 13, or 0.34 per cent, at Rs 3,848 per barrel in 1,876 lots.

Analysts said raising of bets by participants kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude oil gained 0.67 per cent to USD 52.62 per barrel, while Brent crude traded 0.54 per cent higher at USD 55.71 per barrel in New York.